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Trillions of dollars worth of oil found in Australian outback

Star Wars

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The discovery in central Australia was reported by Linc Energy to the stock exchange and was based on two consultants reports, though it is not yet known how commercially viable it will be to access the oil.
The reports estimated the company’s 16 million acres of land in the Arckaringa Basin in South Australia contain between 133 billion and 233 billion barrels of shale oil trapped in the region’s rocks.
It is likely however that just 3.5 billion barrels, worth almost $359 billion (£227 billion) at today’s oil price, will be able to be recovered.
The find was likened to the Bakken and Eagle Ford shale oil projects in the US, which have resulted in massive outflows and have led to predictions that the US could overtake Saudi Arabia as the world’s largest oil producer as soon as this year.
Peter Bond, Linc Energy’s chief executive, said the find could transform the world’s oil industry but noted that it would cost about £200 million to enable production in the area.

http://www.telegraph.co.uk/news/wor...worth-of-oil-found-in-Australian-outback.html

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The Evil Australian Regime is developing WMD and is supporting Al Quida ... US and UN should sanction Australia and over throw its evil regime with military force... :angry: :angry:
 

xdrive

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So much oil in such close proximity to a resource starved nation... Its bound to happen at some point.. if not in the near future..

They aren't resource starved....... They have all they resources they want which they purchase from countries such as Australia.

This isn't a video game. It may seem "logical" to you, but in the real world invading a country that is as big as Australia just to take resources when you can just get them through trade is just stupid.
 

Star Wars

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There is nothing stupid in this..... Human history is filled with events where countries have invaded another for resources , telling me its different this time wont help much ...
 

scorpionx

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There is nothing stupid in this..... Human history is filled with events where countries have invaded another for resources , telling me its different this time wont help much ...
Military invasion?forget about it.China will never do that.Not with Australia in 21st century.
 

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